Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Shares Sold by Bard Associates Inc.

Bard Associates Inc. lowered its holdings in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 202,055 shares of the investment management company’s stock after selling 10,262 shares during the period. Tortoise Power and Energy Infrastructure Fund comprises about 1.2% of Bard Associates Inc.’s investment portfolio, making the stock its 21st biggest holding. Bard Associates Inc.’s holdings in Tortoise Power and Energy Infrastructure Fund were worth $3,659,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its stake in Tortoise Power and Energy Infrastructure Fund by 13.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 197,369 shares of the investment management company’s stock worth $3,116,000 after purchasing an additional 23,673 shares in the last quarter. Choreo LLC increased its stake in shares of Tortoise Power and Energy Infrastructure Fund by 7.7% in the second quarter. Choreo LLC now owns 44,574 shares of the investment management company’s stock worth $702,000 after purchasing an additional 3,169 shares during the period. Wolverine Asset Management LLC bought a new stake in Tortoise Power and Energy Infrastructure Fund in the 2nd quarter valued at $109,000. Sanctuary Advisors LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 2nd quarter worth approximately $258,000. Finally, Carmichael Hill & Associates Inc. grew its stake in shares of Tortoise Power and Energy Infrastructure Fund by 3.4% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 21,429 shares of the investment management company’s stock valued at $338,000 after purchasing an additional 705 shares during the period.

Tortoise Power and Energy Infrastructure Fund Stock Performance

TPZ stock opened at $19.72 on Friday. The company has a 50 day moving average price of $18.66 and a 200 day moving average price of $17.08. Tortoise Power and Energy Infrastructure Fund, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $20.40.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 22nd will be paid a $0.105 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 6.39%. The ex-dividend date of this dividend is Friday, November 22nd.

Tortoise Power and Energy Infrastructure Fund Profile

Tortoise Power and Energy Infrastructure Fund, Inc is a closed-ended balanced mutual fund launched and managed by Tortoise Capital Advisors, LLC. The fund invests in the fixed income and public equity markets of the United States. It invests in securities of companies operating in the power and energy infrastructure sectors.